chemXplore tracks 1 project in Iraq, of which one is active.
1 revamp / retrofit.
Owners and developers: BP Energy Company of Kirkuk Limited (1), National Oil Corporation (1), bp (1)
Investors: ConocoPhillips Company (1), Türkiye Petrolleri Anonim Ortaklığı (1)
Targeting: Crude oil (1), Natural gas (1)
Q2 profit USD 786m; strong oil and gas prices plus higher refining and petrochemical margins offset fuel price caps and operational outages.
15% stake added to the Kirkuk redevelopment vehicle; ConocoPhillips holds 42%; project targets over 3bn boe across multiple Kirkuk fields; assets currently with NOC/NGC.
A 42% stake will support redevelopment of Kirkuk oil fields, with an initial >3 billion boe production phase across Baba, Avanah, Bai Hassan, Jambur and Khabbaz.
Higher hydrocarbon prices lifted upstream; production 95.5 mboepd. Downstream hit by lower refining volumes and feedstock scarcity; Rijeka delayed coker opened. Consumer services and circulars rose.
Effective April 1, 2026: price adjustments across Cadox, Butanox and Trigonox due to Middle East-driven oil and feedstock cost rises; supplier will work with distributors to maintain supply.
Upstream struggles amid tough conditions, while Downstream and Consumer Services thrive. Profit before tax drops 11% to USD 1.3B. 2026 guidance set at USD 1.5B.
Q3 profit stable at USD 503 mn. Upstream steady, downstream boosted by refining margins. Consumer Services grew, Circular Economy Services faced seasonal challenges. Guidance reviewed.
KM250 project adds 250 MMscf/d capacity, increasing Khor Mor's output to 750 MMscf/d, meeting over 80% of Kurdistan's power needs. Delivered eight months ahead of schedule.
Aims for 4% annual energy growth, $7.5B savings, and 40%+ shareholder returns. Focus on LNG, Integrated Power, and emissions reduction.
Agreements reached to reopen the KRI-Ceyhan pipeline, closed since spring 2023, boosting MOL's Shaikan oil field production and price realization.
